Additionally, a not-too-unreasonable interpretation of current international treaties would lead one to conclude that piece of junk, inoperable satellite X (or a piece of debris that comes off of it) is still owned by country Y, interfering with it is a violation of Y's sovereignty, etc. This is to be contrasted with the seas where there are some kind of established norms about the wreckage of ships, abandoned ships, etc.
I kinda want to bone up on the relevant treaties and/or agreements about Earth orbit and other planets.